JOHANNESBURG (miningweekly.com) – JSE-listed Wescoal expects to deliver double-digit decreases in reported headline earnings per share (HEPS) and earnings per share (EPS) for the year ended March 31.
The company’s reported HEPS is anticipated to fall by 54% to 62% to between 10.4c and 12.4c apiece for the year under review, compared with the HEPS of 27.1c achieved in the prior year.
Similarly, the reported EPS is anticipated to be between 10.7c and 12.8c a share for the 12 months to March 31, a decline of 51% to 59% from the 26.2c reported in 2016.
However, excluding the impact of nonrecurring costs and black economic empowerment (BEE) share dilution, HEPS and EPS are expected to increase to between 49.1c and 59.2c.
The noncash, nonrecurring cost BEE-related discount impact of 32c a share, the dilution impact of the BEE transaction’s increase in the number of issued shares at 7c apiece and the one-off Keaton acquisition transaction costs of 3c a share had offset Wescoal’s significant increase in profitability owing to strong production from the flagship Elandspruit mine in steady-state production.
Wescoal planned to publish its financial results on June 28.